EUR/JPY - Making new 6-year highs

EUR/USD

Consolidating.

• EUR/USD's bounce has thus far been unimpressive. The resistance at 1.2577 is intact. Another resistance can be found at 1.2632. Hourly supports stand at 1.2395 (11/11/2014 low) and 1.2358.

• In the longer term, EUR/USD is in a downtrend since May 2014. The break of the strong support area between 1.2755 (09/07/2013 low) and 1.2662 (13/11/2012 low) has opened the way for a decline towards the strong support at 1.2043 (24/07/2012 low). A key resistance stands at 1.2886 (15/10/2014 high).

Await fresh signal.

GBP/USD

Challenging its recent lows.

• GBP/USD remains weak. The hourly support at 1.5593 (14/11/2014 low) is challenged. Hourly resistances can be found at 1.5679 (18/11/2014 high) and 1.5736.

• In the longer term, the break of the support at 1.5855 (12/11/2013 low) confirms an underlying bearish trend. A conservative downside risk is given by a test of the support at 1.5423 (14/08/2013 low). Another support can be found at 1.5102 (02/08/2013 low). A key resistance lies at 1.5945 (11/11/2014 high, see also the declining channel).

Await fresh signal.

USD/JPY

Grinding higher.

• USD/JPY continues to rise, as can be seen by the new highs above the hourly resistance at 117.05 (17/11/2014 high). Hourly supports can be found at 116.34 (18/11/2014 low) and 115.46 (17/11/2014 low). A resistance can be found at 117.95 (15/10/2007 high).

• A long-term bullish bias is favoured as long as the key support 105.23 (15/10/2014 high) holds. The break of the major resistance at 110.66 (15/08/2008 high) opens the way for a further rise towards 120.00 (psychological threshold, see also the 61.8% retracement of the 1998-2011 decline). A major resistance stands at 124.14 (22/06/2007 high).

Await fresh signal.

USD/CHF

Remains in a short-term succession of lower highs.

• USD/CHF continues to move within its declining channel. A key support stands at 0.9544. Hourly resistances can now be found at 0.9655 (see also the declining channel) and 0.9701. Another support can be found at 0.9442.

• From a longer term perspective, the technical structure favours a full retracement of the large corrective phase that started in July 2012. The recent new highs above the key resistance at 0.9691 confirm this outlook. A strong support stands at 0.9368 (15/10/2014 low). A key resistance can be found at 0.9839 (22/05/2013 high).

Await fresh signal.

USD/CAD

Successful test of the support at 1.1259.

• USD/CAD continues to move within its shortterm declining channel. However, the support at 1.1259 has successfully been tested and the hourly resistance at 1.1328 has been breached. Resistances are given by the declining channel (around 1.1377) and 1.1402. An hourly support lies at 1.1295 (intraday low).

• In the longer term, the technical structure looks like a rounding bottom whose minimum upside potential is at 1.1725. The recent move above the resistance at 1.1279 (20/03/2014 high) confirms this bullish outlook. A strong support stands at 1.1072 (02/10/2014 low).

Await fresh signal.

AUD/USD

Weakening.

• AUD/USD is weakening, as can be seen by the recent short-term lower high and the break of the short-term rising channel. Hourly supports can be found at 0.8648 and 0.8591 (11/11/2014 low). Hourly resistances now lie at 0.8747 (18/11/2014 high) and 0.8796 (17/11/2014 high).

• In the long-term, the break of the strong support at 0.8660 (24/01/2014 low) confirms the underlying long-term bearish trend and opens the way for further weakness. Supports can be found at 0.8316 (01/07/2010 low) and 0.8067 (25/05/2010 low). A key resistance stands at 0.8911 (29/10/2014 high).

Await fresh signal.

GBP/JPY

Moving towards the high of its recent consolidation phase.

• GBP/JPY is rising within its horizontal range defined by the hourly support at 181.13 and the hourly resistance at 184.33. Monitor the initial resistance at 183.39 (17/11/2014 high). Another support stands at 179.66.

• In the long-term, the trend is positive as long as the strong support area between 169.51 (11/04/2014 low) and 167.78 (18/03/2014 low) holds. The break of the strong resistance at 180.72 (19/09/2014 high) opens the way for further strength. A key resistance stands at 197.45 (24/09/2008 high).

Await fresh signal.

EUR/JPY

Making new 6-year highs.

• EUR/JPY has broken the strong resistance at 145.69, making new 6-year highs. Hourly supports can be found at 145.74 (intraday low) and 144.79 (17/11/2014 low).

• The long-term technical structure remains positive as long as the key support at 134.11 (20/11/2013 low) holds. The break of the major resistance at 145.69 opens the way for a further rise towards the psychological resistance at 150.00. Another resistance stands at 157.00 (08/09/2008 high).

Await fresh signal.

EUR/GBP

Challenging a key resistance area.

• EUR/GBP is challenging the key resistance area between 0.8047 (15/10/2014 high, see also the declining channel) and 0.8066 (see also the 200- day moving average). Hourly supports can be found at 0.7955 (17/11/2014 low) and 0.7935 (14/11/2014 low).

• In the longer term, the major support area between 0.7755 (23/07/2012 low) and 0.7694 (20/10/2008 low) has held thus far. A decisive break of the resistance at 0.8034 (25/06/2014 high, see also the declining channel and the 200- day moving average) would confirm an improving technical structure.

Await fresh signal.

EUR/CHF

Stabilising near 1.2000.

• EUR/CHF is stabilising close to the SNB's threshold at 1.20. Hourly resistances can be found at 1.2025 (13/11/2014 high) and 1.2039 (12/11/2014 high).

• In September 2011, the SNB put a floor at 1.2000 in EUR/CHF, which will be enforced with the "utmost determination". For the time being, a break of this threshold is very unlikely.

Await fresh signal.

GOLD (in USD)

Pushing higher.

• Gold has broken the resistance at 1194 (50% retracement). Resistances can now be found at 1208 (61.8% retracement) and 1236. The shortterm momentum is positive as long as the hourly support at 1182 holds. Another hourly support can be found at 1168 (13/11/2014 high).

• In the long-term, the move below the strong support at 1181 (28/06/2013 low) confirms the underlying downtrend and opens the way for further declines towards the strong support at 1027 (28/10/2009 low). A strong resistance can be found at 1255 (21/10/2014 high).

Await fresh signal.

SILVER (in USD)

Pausing.

• Silver is consolidating after Friday's sharp rise. Hourly supports stand at 16.00 (18/11/2014 low) and 15.91 (previous resistance). Resistances can be found at 16.68 and 17.04.

• In the long-term, the break of the major support area between 18.64 (30/05/2014 low) and 18.22 (28/06/2013 low) confirms an underlying downtrend. Although the strong support at 14.64 (05/02/2010 low) has held thus far, the lack of any base formation continues to favour a bearish bias. A resistance lies at 17.80 (15/10/2014 high). Another key support can be found at 11.77 (20/04/2009 low).

Await fresh signal.